How do you handle BOA orders? - REO Property Preservation Forum
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post #1 of 22 (permalink) Old 05-20-2013, 09:32 PM Thread Starter
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How do you handle BOA orders?

Any of you that work for SG, have seen these order come out that state (paraphrasing) "You have up to 5K to put the property ICC. Expenses above typical thresholds will be scrutinized and undergo additional quality control to ensure fair pricing was invoiced"

Now for me, this is a recipe for disaster. They don't tell you what they want done, don't tell you what they will pay you, and you have to wait until after you've sent in your invoice to find out.

How are you guys handling these orders? I've been trying to pin them down on just what they want done and get them to agree to a price prior to starting any work, but its like pulling sore teeth out of a mad bear.
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post #2 of 22 (permalink) Old 05-20-2013, 09:41 PM
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Bid it

Professionals are people who can do their job when they don't feel like it.
Amateurs are people that can't do their job even when they do feel like it.
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post #3 of 22 (permalink) Old 05-20-2013, 09:43 PM
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I've told them either it is stated on the Wo or it will be bid. Not gonna get screwed by doing the work and then letting them decide if they are going to pay me.
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post #4 of 22 (permalink) Old 05-20-2013, 09:55 PM
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I do a couple a week of these orders. They want it in convey fix everything to put it in if you can't put it in convey call from site and 90% of the time they approve more funds over the phone. I have been approved over 30k on this type of order.

This includes all convey damages. If your worried just call your regional get a poc and your covered. No big deal.
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post #5 of 22 (permalink) Old 05-20-2013, 10:04 PM Thread Starter
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well, at least we are consistent. That's what I've been doing too. But, they have been re-opening some of the orders and telling me to go back and use the 5K, without telling me my bids are OK of course. Most of the time I make my estimate of damages total more than the 5K. But sometimes that just doesn't work.

The real problem is they aren't consistent on what ICC means. We all know the HUD line - All properties conveyed to HUD should be undamaged by fire, flood, earthquake, tornado, hurricane, or boiler explosion (for condominiums) or damage resulting from Mortgagee neglect.

But, they want a water heater present. All HVAC equipment must be present. Sometimes mold is an ICC issue, sometimes its not. Sometimes there must be a kitchen range present, sometimes not. And the mold, HVAC and water heater have nothing to do with mortgagee neglect, fire, flood, or hurricanes. So, without knowing just exactly what they want, I bid the stuff and if they re-open the order, I pin them down on just what they want, and what I will be paid. Or they can send some other schmuck out to lose his @ss.
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post #6 of 22 (permalink) Old 05-20-2013, 10:13 PM Thread Starter
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Quote:
Originally Posted by wmhlc View Post
I do a couple a week of these orders. They want it in convey fix everything to put it in if you can't put it in convey call from site and 90% of the time they approve more funds over the phone. I have been approved over 30k on this type of order.

This includes all convey damages. If your worried just call your regional get a poc and your covered. No big deal.
Yours may be different. I almost never get to speak to my regional, ever, unless she calls me. And calling from site, how do you estimate a 30K job from site? Not saying you can't but, I don't think I want too.

I guess my real problem is, if I've already sent them a list of damages and estimates, why don't they send me a work order with details specifying what's to be done and a price I can invoice. That way everybody knows what's what and there isn't any hard feelings later.
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post #7 of 22 (permalink) Old 05-20-2013, 10:27 PM
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Quote:
Originally Posted by BamaPPC View Post
Yours may be different. I almost never get to speak to my regional, ever, unless she calls me. And calling from site, how do you estimate a 30K job from site? Not saying you can't but, I don't think I want too.

I guess my real problem is, if I've already sent them a list of damages and estimates, why don't they send me a work order with details specifying what's to be done and a price I can invoice. That way everybody knows what's what and there isn't any hard feelings later.
Get a POC. Then you know exactly what they want done and what you're getting paid for.



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post #8 of 22 (permalink) Old 05-20-2013, 10:34 PM
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well if you are working for SG then you had to have signed the new agreement which means you cannot place a lean on the property for non payment of work done, so then they paraphrase it like this and people see ohh they will put up to 5k into it and they do 5k worth of work and get paid for 2500 3k if they are lucky. I tell them this is my price the rest is bid.
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post #9 of 22 (permalink) Old 05-20-2013, 10:47 PM
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I have almost never had problems with invoice cutting on these orders. My regional didn't get involved in these but if you can pin down whoever sends the order and give them a list of items,I have had them tell me which are icc and which are not. they generally won't approve pricing ahead of time but if it's under the 5k, like I said, I have had few issues with my invoice being cut. These are usually very good orders to be getting, we love them.
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post #10 of 22 (permalink) Old 05-20-2013, 10:53 PM Thread Starter
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I have almost never had problems with invoice cutting on these orders. My regional didn't get involved in these but if you can pin down whoever sends the order and give them a list of items,I have had them tell me which are icc and which are not. they generally won't approve pricing ahead of time but if it's under the 5k, like I said, I have had few issues with my invoice being cut. These are usually very good orders to be getting, we love them.
I've not had any problems either, but I try to get it in writing. I guess I'm just gun shy. I've been working with these people for long enough to know when I'm sticking my neck out and asking for it to be chopped off.

It's the "up to" part that sticks in my craw. I really try to do a good job and invoice honestly for work performed. But, when you get those notes saying "Your bid is too high and we reduced it to X before sending it to the client." I have a little trouble trusting them to pay my invoice after the work is done.
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